Osteoarthritis Treatment Market

Market Overview

The global osteoarthritis treatment market size was valued at USD 6,200.04 million in 2021. It is expected to reach USD 10,350.98 million by 2030, growing at a CAGR of 5.86% during the forecast period (2022–2030). The increasing usage of painkillers is the reason for the growth in the osteoarthritis market. The obesity pandemic, breakthroughs in imaging technology, pain management, and an aging population are all factors contributing to the historic period's increase.

The aging population, a surge in osteoarthritis cases, and a rise in research and development efforts aimed at creating better and more effective medications are driving the market's expansion. However, the expense of medications used to treat osteoarthritis and the risk involved in using non-steroidal anti-inflammatory drugs prevent the market from growing. Conversely, global healthcare costs are rising and government policy changes are opening doors for market participants.

Osteoarthritis, degenerative arthritis, is the most common long-term condition affecting the joints. Acute joint pain and stiffness are consequently felt in the affected body parts. Numerous methods are used to treat osteoarthritis, including painkillers and joint-pain relieving exercise. Acetaminophen (Tylenol) or a nonsteroidal anti-inflammatory drug (NSAID) are examples of over-the-counter (OTC) pain relievers that can help with OA symptoms (NSAID). Long-term (chronic) OA discomfort can be treated with duloxetine (Cymbalta), a medication for pain management. Injections of steroids often reduce the discomfort associated with osteoarthritis, at least temporarily.

Market Dynamics

Market Drivers

Growing Geriatric Population

Osteoarthritis is a leading cause of disability in people 65 and older, and symptoms include comorbid conditions, increased mortality, and decreased quality of life. Longer life expectancies have raised the median age, increasing the elderly population. Aging causes cellular, molecular, and organ damage that leads to function loss, illness, and death. Osteoarthritis causes pain and disability in the elderly. The rising geriatric population is expected to increase chronic and fatal diseases. Also, the elderly are more prone to musculoskeletal disorders. The growing elderly population increases the demand for osteoarthritis treatments.

Improving Rate of Orthopedic Disorders

Globally, osteoarthritis is a common multifactorial joint disease that progresses over time and is characterized by functional impairment and chronic pain. According to a study by Aiyong Cui et al., published in the December 2020 issue of the Lancet Journal, knee osteoarthritis accounts for nearly half of the burden of osteoarthritis worldwide and worsens with age and obesity. Women are more likely to develop osteoarthritis, and some risk factors for a high incidence of the condition include being overweight, old age, obesity, knee injury, weak muscles, low bone density, and loose joints. These factors are crucial in developing joint osteoarthritis, especially in weight-bearing joints. Therefore, it is anticipated that the demand for therapeutics will increase due to the rising incidence of osteoarthritis worldwide over the forecast period.

Market Restraints

High Cost Associated with Products Using Hydrochloric Acid

The high cost of the products is anticipated to be a barrier for the osteoarthritis market over the forecast period. Hyaluronic acid, a high-weight molecule, is used to treat osteoarthritis. Even though there are more procedures, most medical practices worldwide cannot afford them. For middle-class or lower-middle-class populations, these invasive and non-invasive procedures are pricey. Therefore, it is anticipated that the high costs related to hydrochloric acid injections and osteoarthritis treatment will restrain the development of the global osteoarthritis treatment market.

Market Opportunities

Rising Research and Development Efforts

Osteoarthritis (OA) is the most common form of rheumatism, and its incidence is increasing alongside rising obesity and life expectancy rates. Additionally, osteoarthritis, one of the leading causes of disability, has a remarkable impact on functional ability. Several mechanical, inflammatory, and metabolic factors play a significant role and present potential treatment options. Currently, most pharmacological treatments are focused on relieving symptoms.

In contrast, regulatory bodies have not yet approved drugs intended to slow or stop the progression of osteoarthritis while also reducing symptoms. Research and development efforts have been made to evaluate the pain-relieving potential of vanillic acid (VA) by targeting Synovitis caused by the NOD-like receptor protein 3 (NLRP3) inflammasome. Additionally, it was discovered that Synovitis significantly contributes to knee osteoarthritis (KOA) pain. Due to the high prevalence of osteoarthritis and rising research and development efforts to create new, effective therapeutics, the market is anticipated to grow during the forecast period.

Regional Analysis

By region, the global osteoarthritis treatment market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

North America Dominates the Global Market

North America osteoarthritis treatment market share is the most significant shareholder in the global market and is expected to grow at a CAGR of 5.82% during the forecast period. The US market is expanding due to technological advancements, rising geriatric and obese populations, rising prevalence of knee-related diseases like osteoarthritis, and other factors. According to the National Public Health Agenda for Osteoarthritis 2020 Update by the Osteoarthritis Action Alliance, 32.5 million people in the United States will have osteoarthritis (OA), the most prevalent type of arthritis and a severe chronic condition affects 1 in 7 adults in the country. The market is also anticipated to grow due to the US's rising research and development efforts to develop novel therapeutics. Organizations like the Arthritis Foundation and the Osteoarthritis Centers of America are constantly working on campaigns to educate the US population about osteoarthritis treatment options. As a result of the aforementioned factors, the osteoarthritis treatment market in the US is predicted to proliferate during the forecast period.

Asia-Pacific osteoarthritis treatment market growth is expected to rech at a CAGR of 6.28%, generating USD 2,630.84 million during the forecast period. Due to the rising prevalence of osteoarthritis, the existence of significant market players, and the rising geriatric population in the nation, it is anticipated that the Japanese market for osteoarthritis treatment will experience substantial growth during the forecast period. Japan is one of the Asian nations that is aging quickly. In addition, osteoarthritis is the most prevalent joint condition and the main contributor to disability among Japan's elderly population.

Additionally, a research study by Kaname Ueda et al., published in the June 2020 issue of Clinical Interventions in Aging, found that patients with knee osteoarthritis plus osteoarthritis at another site (KOA/+) in Japan received more pain-related treatment than those with knee osteoarthritis alone (KOA/O). In order to manage osteoarthritis, many people choose pain-related treatments in the nation, which has a positive effect on market growth. The major market players prioritize product launches, developments, and collaborations with regional government agencies and local market players to create novel medicines. Therefore, it is anticipated that the aforementioned factors will increase Japan's demand for osteoarthritis treatments.

In Europe, the aging of the population, a significant risk factor for osteoarthritis development, and the rising incidence of osteoarthritis among the German population are the main factors propelling market growth in Germany. According to the World Population Ageing Report 2019, roughly 18.009 million people in Germany were 65 or older in 2019. By 2030, this number is expected to rise to 21.767 million. In Germany, osteoarthritis prevalence is anticipated to increase in the coming years due to population aging. Novartis purchased Merck KGaA's Phase II study-involved investigational drug M6495 in October 2020. The medication functions as an anti-ADAMTS5 Nanobody that can be administered by the patient via subcutaneous injections to preserve the structural integrity of the knee joint and lessen OA pain. As a result, the factors above are anticipated factors above over the forecast period.

In South America, the rising prevalence of osteoarthritis and the rising geriatric population are the main factors driving the growth of the regional market. The Brazilian osteoarthritis treatment market is anticipated to experience significant growth over the forecast period. Furthermore, it has been demonstrated that the Brazilian population's prevalence of joint disorders has been rising over the past few years. To increase market share, market participants in Brazil implement various strategies, including product launches, developments, partnerships, collaborations, and mergers. For instance, Bioventus Inc. received marketing approval from Brazil's Agencia Nacional de Vigilancia Sanitaria (ANVISA) in October 2018 for DUROLANE, a single-injection hyaluronic acid used to treat pain related to knee and hip osteoarthritis. Bioventus Inc. has chosen Pfizer Inc. as its sole distributor in Brazil. Consequently, a healthy growth rate is anticipated for the osteoarthritis treatment market in Brazil during the forecast period.

In the Middle East and Africa, the Gulf Cooperation Council (GCC) region comprises Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates, and Oman. Some elements contributing to the overall market growth in GCC nations include the growing elderly population and the rising prevalence of orthopedic disorders. Most osteoarthritis (OA), a common degenerative disease affecting joints, is rising in the Middle East. As the elderly population grows, the demand for therapeutics to manage the disease will increase, driving market growth. This population is also more susceptible to joint-related disorders. In the Aseer region, Saudi Arabia, general population awareness of knee osteoarthritis (OA) was more than satisfactory, especially for preventive measures, relieving measures, and its risk factors, according to a research study by Mohammed S. Mukharrib et al., published in the Journal of Family Medicine and Primary Care December 2018. This will boost the market, increasing demand for therapeutics to prevent the disease. Thus, the market for osteoarthritis treatment will be anticipated to expand in this region as the prevalence of orthopedic disorders rises.

Segmental Analysis

The global osteoarthritis treatment market is segmented by drugs and anatomy.

Based on drugs, the global osteoarthritis treatment market is bifurcated into non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and hyaluronic acid injection.

The non-steroidal anti-inflammatory drugs (NSAIDs) segment is the highest contributor to the market and is expected to grow at a CAGR of 5.84% during the forecast period. NSAIDs have long been used as an effective treatment for osteoarthritis symptoms. NSAIDs work by allowing the prostaglandin-producing enzyme, cyclooxygenase, to enter the body and produce anti-inflammatory and analgesic effects (COX). NSAIDs are frequently prescribed medications for back pain and other types of joint pain. NSAIDs help relieve pain while reducing swelling (or inflammation) and differ from other drug classes, like acetaminophen. NSAIDs function by inhibiting two forms of the cyclooxygenase enzyme (COX). The COX-1 enzyme aids in maintaining kidney function and shields the stomach lining from gastrointestinal acids. When joints become swollen or injured, COX-2 is produced. Blocking both forms of this enzyme lowers fever, pain, and inflammation. Also, the risk of these side effects is higher in the elderly population.

The human body naturally contains hyaluronic acid, also known as hyaluronan or hyaluronate, a gel-like substance. Natural hyaluronic acid plays several critical roles in the joints, including lubrication, acting as a shock absorber within the joint, assisting in the growth and development of the cartilage and bone in common, and being a critical factor in lowering joint inflammation and pain brought on by injury or tissue degeneration. Hyaluronic acid injection, also referred to as Visco supplementation in this context, is used for joint treatments like osteoarthritis and may be administered intra-articularly (within the joint capsule) or periarticularly (around the joint capsule). The injected gel helps restore lubrication and encourages the development of new bone and cartilage tissues in these joints. Hyaluronic acid injections can treat knee, shoulder, ankle, hip, and thumb osteoarthritis. The segment is anticipated to experience significant growth over the forecast period due to the abovementioned factors.

Based on anatomy, the global osteoarthritis treatment market is bifurcated into ankle osteoarthritis, hip osteoarthritis, knee osteoarthritis, and shoulder osteoarthritis.

The knee osteoarthritis segment owns the highest market share and is expected to grow at a CAGR of 6.25% during the forecast period. The chronic degenerative disease knee osteoarthritis (KOA), which affects middle-aged and older adults more frequently in women than men and hurts the quality of life and joint function, is a primary global public health concern. However, oral NSAIDs were conditionally advised for people with knee OA who do not have comorbid conditions. The OARSI Panel recommended using non-selective NSAIDs, preferably in combination with either selective COX2 inhibitors or a proton pump inhibitor (PPI). Due to their advantages for pain and functional outcomes, selective COX-2 inhibitors and non-selective NSAIDs combined with a PPI were conditionally advised for people with GI comorbidities. The knee osteoarthritis treatment market is thus anticipated to expand due to the aforementioned factors over the forecast period.

Hip osteoarthritis primarily affects the articular cartilage but can also affect the ligaments, capsule, synovium, subchondral bone, and other structures. Loss of joint space due to this degeneration may be a symptom. Hip trauma, primary inflammatory arthritis, common morphology, congenital and developmental hip disease, obesity, advanced age, sedentary lifestyle, and metabolic disorders are among the risk factors connected to the development of hip osteoarthritis. Additionally, corticosteroid (CS) injections were suggested as the most effective treatment for hip OA patients in the short term in the research article published in Arthroscopy, 2020. More research has been advised to directly compare the advantages of various treatment options for hip osteoarthritis.

Recent Developments

• September 2022- Bayer planned to publish updated cardiorenal data for Kerendia (finerenone) in a range of patients with early- to late-stage chronic kidney disease and type 2 diabetes.
• December 2021- OrthogenRx, Inc., a rising leader in Visco supplementation therapies for the management of knee osteoarthritis (OA) pain, was acquired by Avanos Medical, Inc. for a total consideration of USD 160 million, according to a statement. GenVisc 850 and TriVisc, the company's commercial HA therapy products, are included in the purchase price, which is made up of USD 130 million in cash at closing and an additional USD 30 million in contingent cash consideration that will be paid upon the achievement of growth milestones.